Comprehensive Guide To Risk Management

Comprehensive Guide To Risk Management

Introduction

MASTER THE ART OF RISK MANAGEMENT: NAVIGATE UNCERTAINTY WITH CONFIDENCE!

This 2-day risk management workshop is designed to equip participants with essential skills in identifying, assessing, and mitigating risks. Through practical simulation exercises and case studies, attendees will learn to develop effective risk response plans and enhance decision-making processes within their organizations.

The objectives of the training program are to:

1. Understand the fundamentals of risk management and its relevance in business.

2. Identify and assess various types of risks to which organizations are exposed to.

3. Develop strategies and techniques for effective risk mitigation and control.

4. Emphasize the importance of continuous monitoring of risks and utilization of key risk indicators.

5. Enhance communication and reporting skills to convey risk information within the organization.

This course is designed for risk managers and risk practitioners.

Outcome

Upon completion of the course, participants will achieve the following learning outcomes:

- Enhanced deep understanding of risk management principles, methodologies, and tools.
- Improved risk management practical skills in identifying, analyzing, and managing risks effectively.
- Create risk mitigation plans and implement control measures to minimize the impact of identified risks.
- Explain the importance of ongoing risk monitoring and use key risk indicators for proactive risk management.
- Articulate risk information clearly and use appropriate reporting mechanisms to communicate risks effectively to relevant stakeholders.
- Apply the knowledge and techniques to implement risk management processes within their organizations, leading to more informed decision-making, better risk oversight, and enhanced business resilience.

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No	Topic	Topic Description
1	Introduction to Risk Management	This topic covers the definition and importance of risk management, key concepts and terminology, and the benefits of effective risk management.
2	Types of Risks	In this topic, participants will be introduced to the many types of risks e.g. financial risks, operational risks, strategic risks, compliance risks, reputational risks, and cybersecurity risks.
3	Risk Management Process	This topic introduces participants to the risk management process: Risk identification Risk assessment Risk prioritization Risk treatment Risk monitoring and review
4	Risk Assessment Techniques	This topic introduces participants to the risk assessment techniques: Qualitative risk assessment Quantitative risk assessment Risk matrix analysis Scenario analysis Failure mode and effect analysis (FMEA)
5	Risk Mitigation Strategies	This topic introduces participants to the risk mitigation strategies: Risk avoidance Risk reduction Risk transfer Risk acceptance Developing risk mitigation plans
6	Risk Monitoring and Reporting	This topic introduces participants to the risk monitoring and reporting: Establishing key risk indicators (KRIs) Monitoring risks effectively Reporting on risk management activities Escalation procedures
7	Risk Culture & Governance	This topic touches on the relevant areas and elements of risk culture and governance, its importance vis-à-vis the organization success and well-being. Participants will gain valuable insights from rich discussions on the challenges in integrating risk culture and governance, and the best practices.
8	Emerging Risk & Trends	This topic touches on what emerging risks are and why it’s important to monitor their trends. Participants will gain valuable insights from rich discussions surrounding the identification of those risks and strategies to manage and mitigate them.
9	Case Study	In this case study exercise, participants will have the opportunity to collaboratively explore risk management principles and apply them to a real-world scenario.
10	Risk Identification & Assessment Simulation Exercise	As part of this risk management program, this simulation exercise aims to provide engaging and practical experience in identifying and assessing risks in various scenarios. Understanding risk is fundamental for effective decision-making in any field, and this exercise will to facilitate the development of these crucial skills in risk management. Participants will work through realistic scenarios in teams. They will experience hands on practice in identifying potential risks, assessing their severity, and developing strategies to mitigate them. This collaborative approach will not only enhance their analytical skills but also encourage rich discussions and shared insights among participants.

Expert

Rodziah Adros Yahya

Rodziah is a certified HRDC trainer with over 25 years of professional experience including 20 years in PETRONAS. Her corporate experience with PETRONAS spanned over various fields including Financial Risk Management, Risk Management, Risk Governance & Compliance, Treasury Management, Corporate Strategic Planning, and Corporate Finance. Rodziah holds a Master's degree in Finance and a Bachelor's degree in Business Administration. While at PETRONAS, Rodziah also served as a Skill Group Trainer for PETRONAS Group of Companies in areas of Financial Risk Management and Corporate Strategic Planning (2008-2013). As a Skill Group Trainer, she has developed and delivered effective training programs tailored to organisational needs. She possesses a foundation in effectively delivering knowledge and engaging with audiences on business and management topics. Her experience has honed her ability to communicate intricate concepts in a clear and concise manner, ensuring comprehension and learning retention among participants. Driven by a passion for continuous learning and sharing knowledge, she transitioned into people development as a certified HRD Corp Trainer (Trainer ID: 25951). With a blend of practical industry insights, extensive background and expertise, and academic qualifications, she is poised to bring real-world relevance and contribute to the masses as a training facilitator.